Analytics - Chapter 11 - Time Series Forecasting

What are short-term, unanticipated, and nonrecurring factors in a time series?

Irregular events

Name 3 standard time series error measure?

MAD, MSE, MAPE

Which one of the following is NOT a standard time series error measure?

MTM

Which one of the following is a measure of forecasting accuracy?

Mean absolute deviation

What does the cyclical component of a time series represent?

Periodic fluctuations which occur over a multi-year period

What is the forecast value when the smoothing coefficient for the simple exponential smoothing model is equal to one?

Previous actual value

Which one of the following is NOT a component of the cyclical variation?

Random

What graphic is best for detecting a trend in a time series?

Scatter diagram

Which one of the following would have the largest seasonal usage variation?

Snow blowing equipment

What is the gradual shifting of a time series over a long horizon called?

Trend

Which of the following terms describes the overall long-term tendency of a time series?

Trend

Name the components of the cyclical variation?

Upswing, Trough, Peak